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Nov 29, 2012
11/12
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>> it's been better. >> susan austin runs a small business outside reno, nevada. but her business is different. it's a brothel. the legendary mustang ranch. >> this is one of our suites. this is the asian suite. >> austin thought the world's oldest profession would be recession proof. not true. >> a lot of my high rollers suddenly discovered they didn't have the discretionary income. they couldn't play as hard as they used to. well, that definitely dug into their wallets, which definitely affected us. >> lance gillman owns the brothel. will the fiscal cliff impact the mustang ranch? >> well, if folks run out of money and jobs, i suppose it could. >> gillman is a republican who is looking to nevada's powerful democrat, harry reid, to keep that from happening. >> do you like harry reid? >> harry reid and i have been friends for 30 years. harry and i both share a vision and a love for the state of nevada. >> susan austin says even here the cliff will hurt. >> anything that happens in washington affects everybody in the united states. it's going to trickle down to me
>> it's been better. >> susan austin runs a small business outside reno, nevada. but her business is different. it's a brothel. the legendary mustang ranch. >> this is one of our suites. this is the asian suite. >> austin thought the world's oldest profession would be recession proof. not true. >> a lot of my high rollers suddenly discovered they didn't have the discretionary income. they couldn't play as hard as they used to. well, that definitely dug into their...
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Feb 24, 2012
02/12
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okada has two licenses in nevada. one for wynn, one for his technology company. if wrong doing occurred, there's a range of possible penalties including losing those licenses. though he can't remember that ever happening in the modern era of vegas. >> a license revocation is a very unusual action and usually the result of a fairly egregious set of behaviors. >> now the philippine regulator who was comped this room tells the wall street journal that's not true. a former prosecutor says while comping rooms is a common practice, it is illegal to do so for someone with authority or influence over any titles. >> thank you very much. >>> oscar nominees go for the gold on sunday. this year the little man, statue, carries more weight than ever when it comes to reaping the revenues. julia boorstein has that story now. what is winning an oscar worth to nominees this year? >> well, bill, it's worth a lot. and it's worth more this year than ever because the worst movie has performed the big e in impact of winning the actual award has on the box office and also on home video
okada has two licenses in nevada. one for wynn, one for his technology company. if wrong doing occurred, there's a range of possible penalties including losing those licenses. though he can't remember that ever happening in the modern era of vegas. >> a license revocation is a very unusual action and usually the result of a fairly egregious set of behaviors. >> now the philippine regulator who was comped this room tells the wall street journal that's not true. a former prosecutor...
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Aug 17, 2012
08/12
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>> nevada is the outliar there, but the states are going to be the ones we're watching all long. ohio in the middle of the pack there in terms of the unemployment rate. florida, i think if you're looking overall, they're solidly below the national average. >>>. >> so is the trend more problematic or just the overall level? >> the trend looks to be flat, and if the bottom is not falling out, the thought is he can hold on the way things are looking at this level. if the bottom falls out, that changes. these numbers seem to indicate maybe a little deterioration in some of these states, but a generally stable trend. >> great to have you on the program, thank you so much. we have more for you on this packed tgif edition of "closing bell." back in a moment. >>> coming up, risky business with. one fund manager says he would gladly let john corzine invest his money. >>> plus, crude discussion, the white house considers tapping the strategic oil reserve to ease the current pain at the pump. is this a good economic move? or a presidential campaign stunt? and money matters, paul ryan railed
>> nevada is the outliar there, but the states are going to be the ones we're watching all long. ohio in the middle of the pack there in terms of the unemployment rate. florida, i think if you're looking overall, they're solidly below the national average. >>>. >> so is the trend more problematic or just the overall level? >> the trend looks to be flat, and if the bottom is not falling out, the thought is he can hold on the way things are looking at this level. if the...
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Feb 19, 2010
02/10
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his new $1.5 billion plan top help homeowners in hard-hit states like nevada, homeowners who may have lost their jobs or under water with their mortgages or trouble with the second loan. maria, the only other new interesting thing they heard is he talked about the support for a potential tourism bill, because he says senator reid has told him, look all of these other count rears promoting their tourism, how come america isn't promoting its own tourism. back to you. >> now, this, i remember one of the big stories of vegas is when was administrations was upset about companies doing big conferences and stuff in vegas, right? didn't that impact vegas quite negatively? >> reporter: that's why a lot of people are still having a little trouble forgiving him. i talked to someone last night said at his property alone they immediately lost $25 million in business after the president made those first remarks one year ago that you should not be "wasting money" or going to las vegas. a lot of convention business lost, some of it is now starting to come back and it is starting to accelerate. >> jan
his new $1.5 billion plan top help homeowners in hard-hit states like nevada, homeowners who may have lost their jobs or under water with their mortgages or trouble with the second loan. maria, the only other new interesting thing they heard is he talked about the support for a potential tourism bill, because he says senator reid has told him, look all of these other count rears promoting their tourism, how come america isn't promoting its own tourism. back to you. >> now, this, i...
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Dec 28, 2012
12/12
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in fact, harry reid now has the republican senator joining him from nevada who won because he made that commitment. he took the pledge, and the democrat that harry reid supported attacked him for taking the pledge, and the people of nevada said we want a senator who will stand with us against harry reid's tax increases, so -- and, of course, the issue that came up with plan "b" which was mr. boehner's recommendation that we pass something out of the house which would stop all the tax increases on anyone who earned less than $1 million permanently, was something that didn't violate the pledge, and we said so and endorsed the message. >> why did thn't that violate t pledge? it raises taxes. >> there's an automatic tax increase coming up. what it does is says permanently. most of the people who would be hit by that tax increase will never be hit by it. there's one of the challenges that you have is obama, when he ran for office four years ago, said he'd never raise taxes on anyone who made less than $200,000, married people less than $250,000, but the new pledge made in 2012 said that his
in fact, harry reid now has the republican senator joining him from nevada who won because he made that commitment. he took the pledge, and the democrat that harry reid supported attacked him for taking the pledge, and the people of nevada said we want a senator who will stand with us against harry reid's tax increases, so -- and, of course, the issue that came up with plan "b" which was mr. boehner's recommendation that we pass something out of the house which would stop all the tax...
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May 15, 2012
05/12
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it's an industry unique to nevada and a few other places. and it has been unique in many, many ways for a very long time. but banking is not gambling. >> and it's important that you come out and say that, by the way. i want to get your take on what jamie dimon said about how this situation violated our principles and get away with what happened here. listen to what he said to investors. here it is. >> this violates our own principles in terms of complexity and risk and we should not let this issue detract from what we're here for. our company is very strong with leading franchises across major businesses and maintain to handle surprise and setbacks like this. >> so, bill, you've sat on the executive committee. tell me how something like this happens and can it be avoided when you're dealing with risk? >> i think it can be avoided and jamie basically said it should have been avoided. i don't know the details. i only know what i heard. there's no question there was a breakdown in their systems and controls. jamie's acknowledged that and they a
it's an industry unique to nevada and a few other places. and it has been unique in many, many ways for a very long time. but banking is not gambling. >> and it's important that you come out and say that, by the way. i want to get your take on what jamie dimon said about how this situation violated our principles and get away with what happened here. listen to what he said to investors. here it is. >> this violates our own principles in terms of complexity and risk and we should not...
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Jan 5, 2010
01/10
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yes, there is a massive excess inventory in arizona, nevada and florida. that will be there whether you stop the foreclosure crisis or not. we built way too many homes and have to burn off the inventory. there is a very little anybody can do about that. it is a completely separate issue. >> we have to leave it there. >> we could go on. >> up next, we will discuss whether the white house is taking the right steps to prevent another terrorist attack in the skies. >>> we are waiting for president obama to address the media on security. let's talk about that with manager of hamilton place strategies, former white houw press secretary and john howard cnbc's chief washington correspondent. thanks for your time. what exactly, tony, would you expect the president to announce in terms of new security measures to protect us? >> i think he is going to reiterate some of the initiatives we have heard through the press today with respect to new names being added to the watch list, what is done with those names. i think he will talk a bit about the review he just receive
yes, there is a massive excess inventory in arizona, nevada and florida. that will be there whether you stop the foreclosure crisis or not. we built way too many homes and have to burn off the inventory. there is a very little anybody can do about that. it is a completely separate issue. >> we have to leave it there. >> we could go on. >> up next, we will discuss whether the white house is taking the right steps to prevent another terrorist attack in the skies. >>> we...
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Apr 8, 2010
04/10
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. >>> and the nevada gaming board says that gaming revenue jumped 33% in february to $568 million which sent shares for the mgm mirage to a 52-week high. >>> today, further signs of strength in hedge funds. they continue to emerge, according to the industry showing the strongest in march among the four key strategies equity hedge funds were the big winners. joining me to detail the report is ken heinz, and edward eisen. good to see you. ken, can you break down the numbers? what is behind the gain in march? >> well, the industry has had gains of 2.7% and the strongest since september, and equity hedge gained 3.5% with strength in quantitative and equity and energy focused funds for the month. there was additional strength in a venture funds at 3%, and those are a strong month and second month of gain with distress and aktus funds. >> well, that is interesting. remember some of the hedge funds who bet big against subprime, did they come back a year and a half later and buy the financials and make money off of them? >> many funds have participated in the recovery that has ensued and not sp
. >>> and the nevada gaming board says that gaming revenue jumped 33% in february to $568 million which sent shares for the mgm mirage to a 52-week high. >>> today, further signs of strength in hedge funds. they continue to emerge, according to the industry showing the strongest in march among the four key strategies equity hedge funds were the big winners. joining me to detail the report is ken heinz, and edward eisen. good to see you. ken, can you break down the numbers?...
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Jan 31, 2012
01/12
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around 3% of loans are stuck in california and nevada. 14% of florida homes are stuck in foreclosure. that's a huge pipeline that will take years to empty. home prices in florida are down anywhere from 40% to 50% depending where you look from the peak of the housing bubble. and home building in the state is down 80% from 2006. the state has lost thousands of housing-related jobs, companies, and even residents. the one area the candidates might point to as improving is the miami beach condo market. but they'd be sorry if they did. condo sales were up 150% in miami beach in 2011 according to the year before. but it was largely foreign buyers. not a fact that would appeal to locals. although all the foreign buyers are helping to stabilize overall condo prices. s suffice it to say, floridians will look to the expansion of the mortgage modification program for principle write down. they'll also look at the new re-fi opportunities because 44% of floridian borrowers owe more on their mortgages than their homes are worth. >> thanks very much. really the crux of the problem there that we're st
around 3% of loans are stuck in california and nevada. 14% of florida homes are stuck in foreclosure. that's a huge pipeline that will take years to empty. home prices in florida are down anywhere from 40% to 50% depending where you look from the peak of the housing bubble. and home building in the state is down 80% from 2006. the state has lost thousands of housing-related jobs, companies, and even residents. the one area the candidates might point to as improving is the miami beach condo...
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Feb 17, 2010
02/10
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. >> reporter: with communities in california, florida, arizona and nevada, woodside was uniquely poised to lose in the latest housing crash and it did. filing chapter 11 bankruptcy in september of 2008. >> come on in. >> got our check today we are ready, yeah. >> we are ready. >> reporter: now woodside is using smaller prices, fewer designs and fewer high-end ammenities to draw in today's battle-weary buyers. >> i got a good deal. the way i see it $260 i can't beat that, four bedroom, three bath, three-car garage. i can't beat that. >> reporter: apparently, it's slowly working. >> i'm not going to deploy a lot of capital based on the bet that the second half of this year is going to be strong. i'm much more confident about the first half than the second half. >> reporter: and this community here in maryland, where woodside expanded to in 2007 is a great example. back then you drove around here, you'd see the prices up in the $600,000s, 3,000 square feet. today you're looking at prices in the $200,000 to $300,000 and 2,000 square feet. downsizing the homes, downsizing the amenities and g
. >> reporter: with communities in california, florida, arizona and nevada, woodside was uniquely poised to lose in the latest housing crash and it did. filing chapter 11 bankruptcy in september of 2008. >> come on in. >> got our check today we are ready, yeah. >> we are ready. >> reporter: now woodside is using smaller prices, fewer designs and fewer high-end ammenities to draw in today's battle-weary buyers. >> i got a good deal. the way i see it $260 i...
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May 30, 2012
05/12
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>> because they can fly across the border as thousands of people move to zero income states like nevada and people moving to florida and massachusetts people moving to new hampshire. it's not just new york but basically any state or for that matter, where it's too greedy and they penalize too harshly, they are going to lose out and it's not only the taxpayers that move away but the taxpayer income. >> if you tax people to death, they are going to leave and then you lose all of the taxpayer revenue? >> if you tax people to death, what states are finding is that they can't cut it too low. the effects exist only in the heads of accurately measurable anywhere. if you cut taxes, what a lot of states are finding, oklahoma was going to cut taxes. the business community came in and said, we need infrastructure. we need schools and roads. >> i don't think anyone is arguing for zero tax rates. >> i don't know. in fact, no tax states is exactly what they are looking -- what the republicans were asking for in kansas and coke r oklahoma. >> well, i'm completely in favor of states getting their incom
>> because they can fly across the border as thousands of people move to zero income states like nevada and people moving to florida and massachusetts people moving to new hampshire. it's not just new york but basically any state or for that matter, where it's too greedy and they penalize too harshly, they are going to lose out and it's not only the taxpayers that move away but the taxpayer income. >> if you tax people to death, they are going to leave and then you lose all of the...
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Dec 18, 2009
12/09
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four of the top five highest unemployment states saw their unemployment rates drop but all four -- nevada, rhode island and michigan and also saw a drop in jobseekers and as did california, a net loss of more than 10,000 jobs in the month and saw unemployment tick down to 12.3% due in part to a drop of 20,000 in the state's total labor force. trade and transportation, which includes retail, saw the biggest losses in the month, down 8,200. offsetting a big jump in professional and businesses services which includes temp jobs which added over 13,000. and construction jobs, which edged up for the first time in california since march of 2007. michigan, where unemployment dropped nearly half a point, following below 15% for the first time since june. they saw jobs fall by 14,000 and total labor force edged down by about 4,000. the state lost 5,000 manufacturing jobs after four months of gains in that sector. and 6,000 retail jobs still unemployment in metro detroit fell nearly a full point to 16.4% as employment, job gains, actually edged up there for the second month. texas officials feel the
four of the top five highest unemployment states saw their unemployment rates drop but all four -- nevada, rhode island and michigan and also saw a drop in jobseekers and as did california, a net loss of more than 10,000 jobs in the month and saw unemployment tick down to 12.3% due in part to a drop of 20,000 in the state's total labor force. trade and transportation, which includes retail, saw the biggest losses in the month, down 8,200. offsetting a big jump in professional and businesses...
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Mar 16, 2010
03/10
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prices have plummeted, as arizona is second-only to nevada if foreclosure. this hour, for example, was on the market two years ago for a million bucks. it eventually sold for less than $700 grand. and a similar home in the same neighborhood is now on the market for under $5. can it get any worse? >> i think a year ago there would had been a for sale sign in every third house. lawns would have really been unkempt. you could see right through. no furniture. vacant. we're starting to rebound a little bit in. >> my mind i think that we've bottomed the worst is behind us. >> reporter: owns sunbelt holdings which has sold out all of its finished residential lots to homebuilders. why would anyone buy and build now is land, labor and materials are so cheap that new homes can compete on price with foreclosures and graham is now even buying back some of the same land he sold at the peak. >> we bought the land back for less than 50% of what we sold it for for the first time. >> reporter: all right, here's the outside of the house. i'm telling you, michelle, maybe we co
prices have plummeted, as arizona is second-only to nevada if foreclosure. this hour, for example, was on the market two years ago for a million bucks. it eventually sold for less than $700 grand. and a similar home in the same neighborhood is now on the market for under $5. can it get any worse? >> i think a year ago there would had been a for sale sign in every third house. lawns would have really been unkempt. you could see right through. no furniture. vacant. we're starting to rebound...
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Oct 8, 2012
10/12
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>> when i wasly, it was, what, new jersey and nevada and now it's 23 states. so obviously, it's changed. supply and demand, we haven't gotten to that point yet. we know atlantic city is getting skewed by pennsylvania. what happens when they open the fourth casino in the spring of 2013? will they start to lose business sneer these are open-ended questions but there will be a tipping point on supply/demand. >> brian, hopefully this is your last live shot, i see an empty seat at that blackjack table over your right shoulder. >> i'm in. thanks, buddy. >> brian shactman for us. >>> what will move your money even before tomorrow's opening bell rings? >> our trio of wall street's top market watchers gives you a leg up on the other side of the break. mike rowe here at a ford dealer with a little q&a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the mar
>> when i wasly, it was, what, new jersey and nevada and now it's 23 states. so obviously, it's changed. supply and demand, we haven't gotten to that point yet. we know atlantic city is getting skewed by pennsylvania. what happens when they open the fourth casino in the spring of 2013? will they start to lose business sneer these are open-ended questions but there will be a tipping point on supply/demand. >> brian, hopefully this is your last live shot, i see an empty seat at that...
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Mar 26, 2010
03/10
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., one in nevada, and one in southern california near blythe, and then we have a lead project in spain as well. >> you are a big success story which is something that we like to highlight here especially with unemployment where it is, but you have a worry about your ability to hire the right people with the right skills. tell us about that? >> well, the energy sector and the renewable energy sector is pretty hot right now, so it is difficult finding the people with the right skill set. we have been hiring, you know, since we were formed in early 2008 and continuing to hire every month, and we need people who have energy skill set in commercial issues, technical issues, and permitting activities and those types of things. so we are hiring junior people and training them up, but it is hard to find experienced people in that sector. >> and they need an engineering background and that is something we have heard from critics that is not high in terms of the educational strength in the united states. i understand that you have also been working with a number of universities and colleges to h
., one in nevada, and one in southern california near blythe, and then we have a lead project in spain as well. >> you are a big success story which is something that we like to highlight here especially with unemployment where it is, but you have a worry about your ability to hire the right people with the right skills. tell us about that? >> well, the energy sector and the renewable energy sector is pretty hot right now, so it is difficult finding the people with the right skill...
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Sep 5, 2013
09/13
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california, nevada, arizona, florida all coming back. within the individual consumer strength, larger ticket projects like kitchen remodels were hit very hard in the downturn. very important for us, our pro customers are also starting to come back. actually our pro customers were the hardest hit during the downturn from 2008 on. >> the professional customer. >> professional customer. >> why were they hit so hard? >> if you look at the performance of our pro customer, you can almost track it to lehman in 2008. they were going down around the same pace as our consumer. then following the fall of 2008, they started declining even twice as fast as our consumer sales during the downturn. it was credit availability. you saw that market shrink post fall of 2008. has now started to recover. in the first quarter, our pro segment grew faster than our consumer segment. second quarter they were both growing equally. >> let's look around the world. the u.s. verses europe. obviously europe has been caught in its own web of upset and debt crisis. china
california, nevada, arizona, florida all coming back. within the individual consumer strength, larger ticket projects like kitchen remodels were hit very hard in the downturn. very important for us, our pro customers are also starting to come back. actually our pro customers were the hardest hit during the downturn from 2008 on. >> the professional customer. >> professional customer. >> why were they hit so hard? >> if you look at the performance of our pro customer, you...
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Jul 2, 2013
07/13
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so those house price gains you see are most implan places like nevada, california, and arizona, which is slowly unlocking as house prices gain. while the numbers are good, we do expect them to slow over the coming year. >> i see. when would you expect to see the pent-up supply come back online? >> some has entered. the increase in inventory is big this year, and more will enter over the course of the year, and more next year into 2014. >> do you think there's still room for housing to grow in terms of pricing and in terms of the supply in the market? >> that's right. i mean, at 12% and 13%, home price appreciation rates are big. but it'll slow down and we're expect our year-ahead forecast to be 6%, 7% growth in may of 2014, over the year. things will slow down, and that's largely because affordability will start to wain, interest rates will go up. there's still plenty of head room there. this is not a bubble yet. affordability is still high. but it's going to be whittled away by rising rates and prices. >> what's a sustainable price increase that you would expect? when do you expect t
so those house price gains you see are most implan places like nevada, california, and arizona, which is slowly unlocking as house prices gain. while the numbers are good, we do expect them to slow over the coming year. >> i see. when would you expect to see the pent-up supply come back online? >> some has entered. the increase in inventory is big this year, and more will enter over the course of the year, and more next year into 2014. >> do you think there's still room for...
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Jun 4, 2013
06/13
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no, california, florida, arizona, and nevada, while the u.s. was growing 6% 2008 to 2011, grew 2%. that certainly played out. i have always be interested in the equity play through this, not the bond play. i think the really exciting growth equities that you look for within this whole theme. i was always looking at the new phase of equity growth during this. and i would absolutely encourage all equity investors to look through this. from the -- sorry, go ahead. >> no, please, go ahead. >> what i was going to say, you know, the municipal bond market, i don't find an interesting area to play this. not only is it illiquid, you know, you're not going to capture the same level of growth and upside as you will through equities. and think about in, in terms of emerging markets' growth, you're getting so much of that within a known quantity called the u.s. equity markets. and so, i think that equities actually are an incredibly safe play. you have great dividend appreciation here and a market that you can truly understand. and, now, businesses are moving here, i get a lot of questions, wel
no, california, florida, arizona, and nevada, while the u.s. was growing 6% 2008 to 2011, grew 2%. that certainly played out. i have always be interested in the equity play through this, not the bond play. i think the really exciting growth equities that you look for within this whole theme. i was always looking at the new phase of equity growth during this. and i would absolutely encourage all equity investors to look through this. from the -- sorry, go ahead. >> no, please, go ahead....
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Apr 29, 2013
04/13
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>> i'm in reno, nevada. those are the mountains to the west of reno overlooking lake tahoe. >> absolutely spectacular. absolutely spectacular shot. amazing snow still on those mountains. good to see you both. thank you so much, gentlemen. >> thank you. >> thanks. >> thank you. hartford financial next. we want to talk about the earnings because they were released just a minute ago. we'll hear how hartford is fairing after superstorm sandy and what he's expecting from the industry. you won't see this interview anywhere else. keep it right here. we're back in a moment. it's monday, a brand new start. with centurylink visionary cloud infrastructure, and custom communications solutions, your business is more reliable, secure, and agile. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> welcome
>> i'm in reno, nevada. those are the mountains to the west of reno overlooking lake tahoe. >> absolutely spectacular. absolutely spectacular shot. amazing snow still on those mountains. good to see you both. thank you so much, gentlemen. >> thank you. >> thanks. >> thank you. hartford financial next. we want to talk about the earnings because they were released just a minute ago. we'll hear how hartford is fairing after superstorm sandy and what he's expecting...
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Sep 30, 2013
09/13
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in nevada, the spanish language portal is delayed until mid-november while online enrollment for the small business portals on the federal exchanges won't begin until november. and in maryland, it won't start until january 1st. a government shutdown certainly won't help matters, but when it comes to these exchanges, kelly and scott, the bigger question is really the technology right now. back to you. >> certainly a lot of glitches, a lot of headaches, and now the government shutdown on top of it all. thank you very much. as we said, the health care insurance exchanges open tomorrow to begin enrollment for health insurance before obama care kicks in but we're less than eight hours away from a possible government shutdown. how does that impact enrollment? >> with us is the ceo of connecticut's health insurance exchange and jay is a former official at the department of health and human services. mr. kunahan, can you give us an idea of how connecticut is ready or is not ready to deal with all of this as we hear about a number of issues around the country? >> sure. we are very fortunate a
in nevada, the spanish language portal is delayed until mid-november while online enrollment for the small business portals on the federal exchanges won't begin until november. and in maryland, it won't start until january 1st. a government shutdown certainly won't help matters, but when it comes to these exchanges, kelly and scott, the bigger question is really the technology right now. back to you. >> certainly a lot of glitches, a lot of headaches, and now the government shutdown on...
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Jan 6, 2010
01/10
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that honor goes to nevada and arizona, which are looking at projected gaps for 2011 of around 30%. but big stakes mean big dollars and nowhere bigger than california which is why where we find our jane wells. jane? >> reporter: scott, with a $6 billion deficit this year and a projected $14 billion next year, governor schwarzenegger said today that he has to make a, quote, sophie's choice, choose which programs to cut or even kill, quote we have no choice. but he also says the worst is over for california. he has proposed a series of initiatives to jump-start the economy here, a half billion in spending to retrain and create jobs, tax break for home buyers, in green technology and prison spending at $50,000 a year per prisoner in california, he suggests that privatizing prisons could save the states billions. the response from lawmakers is mixed. but on one issue they seem to agree with him, his criticism of the new health care bill in congress is, quote, a trough of sweetheart deals which will help other states but cost this state billions. >> california's congressional delegation
that honor goes to nevada and arizona, which are looking at projected gaps for 2011 of around 30%. but big stakes mean big dollars and nowhere bigger than california which is why where we find our jane wells. jane? >> reporter: scott, with a $6 billion deficit this year and a projected $14 billion next year, governor schwarzenegger said today that he has to make a, quote, sophie's choice, choose which programs to cut or even kill, quote we have no choice. but he also says the worst is...